Projekt Cenzurirano

Projekt Cenzurirano:Top deset
najmoćnijih korporacija i 161
pojedinac u upravnim odborima koji
vladaju svijetom
 piše: V.P.

Procjene pokazuju kako se ukupno svjetsko bogatstvo približava brojci od 200
trilijuna dolara, dok SAD i EU zajedno drže čak 63% od te ukupne svote, dok
istovremeno najsiromašnija polovica svjetske populacije, zajedno posjeduje tek
2% od ukupnog svjetskog bogatstva. Svjetska banka izvještava da 1,29
milijardi ljudi živi u uvjetima ekstremnog siromaštva sa manje od 1,25 dolara
dnevno. 35 000 ljudi, uglavnom djece, umire svakoga dana od posljedica
izgladnjivanja. Dok milioni ljudi pate, transnacionalna financijska elita uživa u
trilionima dolara financijske dobiti, špekulirajući rastućim cijenama hrane,
dobara, zemlje i svih ostalih primarnih resursa, sve u svrhu uvećanja vlastitog
bogatstva i učvršćivanja globalnog sustava kontrole, te čini i čuva jezgru
internacionalne korporativne kapitalističke elite.
Projekt Cenzurirano je dovršio opsežnu studiju o ljudima, pojedincima u
nadzornim odborima najcentraliziranijih i najbogatijih korporacija (top ten) na
svijetu.
S preklapanjima, postoji ukupno 13 tvrtki koje pobrojava ova studija. To su
redom; Barclays Plc Blackrock Inc, Capital Group Inc tvrtke, FMR
Corporation:, Fidelity Worldwide Investment AXA Group, State Street
Corporation, JPMorgan Chase & Co., Legal & General Group PLC (LGIMA),
Vanguard Group Inc., UBS AG, Bank of America Merrill Lynch /, Credit Suisse
Group AG i Allianz (vlasnici PIMCO-a) PIMCO-Pacific Investment
Management Co.
Nadzorni odbori ovdje pobrojanih tvrtki , a sve zajedno čine 161 pojedinaca,
predstavljaju financijsku jezgru svjetske transnacionalne kapitalističke klase i
upravljaju fondovima vrijednim 23 910 000 000 000 dolara, te su prisutni u
gotovo svim zemljama diljem svijeta.

Od tih 161 člana upravnih odbora, 136 su muškarci (84%). 88% njih su bijelci
evropskog porijekla. Skoro svi su pohađali privatne koledže i to više od
polovice njih na istih 10 univerziteta.
Redom, Harvard University (25), Oxford University (11), Stanford University
(8), Cambridge University (8), University of Chicago (8), University of
Cologne (6), Columbia University (5), Cornell University (4), the Wharton
School of the University of Pennsylvania (3), and University of California–
Berkeley (3).
Njih 49 su bili izvršni direktori ili imali radno iskustvo u Morgan Stanley,
Goldman Sachsu, Lehman Brothers, Swiss Re, Barclays, Salomon Brothers i
Merrill Lynch.
Od istih 161, njih sedamdeset troje su iz SAD-a, dvadeset sedmero su Britanci,
14 Francuza, dvanaestoro Nijemaca, jedanaestoro su iz Švicarske, četvero iz
Singapura, trojica iz Austrije, Belgije i Indije, dvojica dolaze iz Australije i
Južne Afrike i po jedan iz Brazila, Vijetnama, Hong Konga, Qatara, Norveške,
Zambije, Tajvana, Kuvajta, Meksika i Kolumbije. Uglavnom žive u ili vrlo
blizu nekoliko velikih gradova, a to su New York, Chicago, London, Pariz i
Minhen.
Članovi te svjetske financijske jezgre, vrlo aktivno sudjeluju u političkom
životu i prisutni su u raznim globalnim političkim grupacijama i vladama.
U MMF-u, Svjetskoj banci, Vijeću vanjskih poslova SAD-a. Prošle godine je
njih 19 sudjelovalo na Svjetskom ekonomskom forumu održanom u veljači.
Njih sedmero su trenutno na direktorskim pozicijama u Federalnim rezervama
(u nadzornom odboru).
Nekoliko njih je imalo radnih iskustava u ministarstvima financija zemalja
Europske Unije i naravno, G20.
Gotovo svi od tih 161 pojedinaca su u nekom periodu bili na savjetničkim
mjestima u raznim regulatornim organizacijama, ministarstvima financija,
sveučilištima.
Zapadne vlade i tijela međunarodne politike služe interesima ove financijske
jezgre transnacionalne korporativne elite. Ratovi koji se pokreću štite njihove
interese. Moćna elita promovira slobodni protok kapitala za investicije, gdje
god je moguće ostvariti što veći profit.

Prepoznajući ljude koji posjeduju toliku moć utjecaja na ukupna svjetska
zbivanja, podsjećamo se koliko je važno sudjelovati u demokratskim pokretima
koji zastupaju i štite interese većine, jer svi zaslužujemo pravedniju raspodjelu
dobara i prosperitet.
Potpuni popis s detaljima možete pronaći ovdje:
http://projectcensored.org/financial-core-of-the-transnational-corporate-class/

Financial Core of the Transnational
Corporate Class
September 9, 2013
The Following is a Chapter from the Newest Book Project Censored Project Censored
2014: Fearless Speech in Fateful Times
By Peter Phillips and Brady Osborne
Introduction
In this study, we decided to identify in detail the people on the boards of directors of the
top ten asset management firms and the top ten most centralized corporations in the
world. Because of overlaps, there is a total of thirteen firms, which collectively have 161
directors on their boards. We think that this group of 161 individuals represents the
financial core of the world’s transnational capitalist class. They collectively manage
$23.91 trillion in funds and operate in nearly every country in the world. They are the
center of the financial capital that powers the global economic system. Western
governments and international policy bodies work in the interests of this financial core to
protect the free flow of capital investment anywhere in the world.
A Brief History of Research on the
American Power Elite
A long tradition of sociological research documents the existence of a dominant ruling
class in the United States, whose members set policy and determine national political
priorities. The American ruling class is complex and competitive, and perpetuates itself
through interacting families of high social standing with similar lifestyles, corporate
affiliations, and memberships in elite social clubs and private schools.1
The American ruling class has long been determined to be mostly self-perpetuating,2
maintaining its influence through policy-making institutions such as the National
Association of Manufacturers, the US Chamber of Commerce, the Business Council,
Business Roundtable, the Conference Board, American Enterprise Institute for Public
Policy Research, Council on Foreign Relations, and other business-centered policy

groups.3 These associations have long dominated policy decisions within the US
government.
In his 1956 book, The Power Elite, C. Wright Mills documented how World War II
solidified a trinity of power in the US that comprised corporate, military, and government
elites in a centralized power structure motivated by class interests and working in unison
through “higher circles” of contact and agreement. Mills described how the power elite
were those “who decide whatever is decided” of major consequence.4 These higher-circle
decision makers tended to be more concerned with interorganizational relationships and
the functioning of the economy as a whole, rather than with advancing their particular
corporate interests.5
The higher-circle policy elites (HCPE) are a segment of the American upper class and are
the principal decision makers in society. Although these elites display some sense of “weness,” they also tend to have continuing disagreements on specific policies and necessary
actions in various sociopolitical circumstances.6 These disagreements can block
aggressive reactionary responses to social movements and civil unrest, as in the case of
the labor movement in the 1930s and the civil rights movement in the 1960s. During
these two periods, the more liberal elements of HCPE tended to dominate the decisionmaking process and supported passing the National Labor Relations and Social Security
Acts in 1935, as well as the Civil Rights and Economic Opportunities Acts in 1964.
These pieces of national legislation were seen as concessions to the ongoing social
movements and civil unrest, and were implemented instead of instituting more repressive
policies.
However, during periods of threats from external enemies, as in World Wars I and II,
more conservative/reactionary elements of the HCPE successfully pushed their agendas.
During and after World War I, the United States instituted repressive responses to social
movements, for example through the Palmer Raids and passage of the Espionage Act of
1917 and the Sedition Act of 1918. After World War II, the HCPE allowed and
encouraged the McCarthy-era attacks on liberals and radicals and, in 1947, passage of the
National Security Act and the anti-labor Taft-Hartley Act. In the past twenty-five years,
and especially since the events of 9/11, the HCPE in the US has been united in support of
an American empire of military power that maintains a repressive war against resisting
groups—typically dubbed “terrorists”—around the world. This war on terror is much
more about protecting transnational globalization, the free flow of financial capital, dollar
hegemony, and access to oil, than it is repressing terrorism. Increasingly, the North
Atlantic Treaty Organization (NATO) is a partner with US global dominance interests.7
The Transnational Capitalist Class
Capitalist power elites exist around the world. The globalization of trade and capital
brings the world’s elites into increasingly interconnected relationships—to the point that
sociologists have begun to theorize the development of a transnational capitalist class
(TCC). In one of the pathbreaking works in this field, The Transnational Capitalist Class
(2000), Leslie Sklair argued that globalization elevated transnational corporations (TNC)

to more influential international roles, with the result that nation-states became less
significant than international agreements developed through the World Trade
Organization (WTO) and other international institutions.8 Emerging from these
multinational corporations was a transnational capitalist class, whose loyalties and
interests, while still rooted in their corporations, was increasingly international in scope.
Sklair wrote:
The transnational capitalist class can be analytically divided into four main fractions: (i)
owners and controllers of TNCs and their local affiliates; (ii) globalizing bureaucrats and
politicians; (iii) globalizing professionals; (iv) consumerist elites (merchants and
media). . . . It is also important to note, of course, that the TCC and each of its fractions
are not always entirely united on every issue. Nevertheless, together, leading personnel in
these groups constitute a global power elite, dominant class or inner circle in the sense
that these terms have been used to characterize the dominant class structures of specific
countries.9
William Robinson followed in 2004 with his book, A Theory of Global Capitalism:
Production, Class, and State in a Transnational World.10 Robinson claimed that 500 years
of capitalism had led to a global epochal shift in which all human activity is transformed
into capital. In this view, the world had become a single market, which privatized social
relationships. He saw the TCC as increasingly sharing similar lifestyles, patterns of
higher education, and consumption. The global circulation of capital is at the core of an
international bourgeoisie, who operate in oligopolist clusters around the world. These
clusters of elites form strategic transnational alliances through mergers and acquisitions
with the goal of increased concentration of wealth and capital. The process creates a
polyarchy of hegemonic elites. The concentration of wealth and power at this level tends
to over-accumulate, leading to speculative investments and wars. The TCC makes efforts
to correct and protect its interests through global organizations like the World Bank, the
International Monetary Fund, the G20, World Social Forum, Trilateral Commission,
Bilderberg Group, Bank for International Settlements, and other transnational
associations. Robinson claimed that, within this system, nation-states become little more
than population containment zones, and the real power lies with the decision makers who
control global capital.11
Deeper inside the transnational capitalist class is what David Rothkopf calls the
“superclass.” In his 2008 book, Superclass: The Global Power Elite and the World They
Are Making, Rothkopf argued that the superclass constitutes 6,000 to 7,000 people, or
0.0001 percent of the world’s population.12 They are the Davos-attending,
Gulfstream/private jet–flying, money-incrusted, megacorporation-interlocked, policybuilding elites of the world, people at the absolute peak of the global power pyramid.
They are 94 percent male, predominantly white, and mostly from North America and
Europe. Rothkopf reported that these are the people setting the agendas at the G8, G20,
NATO, the World Bank, and the WTO. They are from the highest levels of finance
capital, transnational corporations, the government, the military, the academy,
nongovernmental organizations, spiritual leaders, and other shadow elites. (Shadow elites
include, for instance, the deep politics of national security organizations in connection

with international drug cartels, who extract 8,000 tons of opium from US war zones
annually, then launder $500 billion through transnational banks, half of which are USbased.)13
Rothkopf’s definition of the superclass emphasized their influence and power. Although
there are over 1,500 billionaires in the world, not all are necessarily part of the superclass
in terms of influencing global policies. Yet these 1,500 billionaires possess two times as
much wealth as the 2.5 billion least wealthy people, and they are fully aware of these vast
inequalities. The billionaires inside the TCC are similar to colonial plantation owners.
They know they are a small minority with vast resources and power, yet they must
continually worry about the unruly exploited masses rising in rebellion. As a result of
these class insecurities, the TCC works to protect its structure of concentrated wealth.
Protection of capital is the prime reason that NATO countries now account for 85 percent
of the world’s defense spending, with the US spending more on military than the rest of
the world combined.14 Fears of rebellions motivated by inequality and other forms of
unrest motivate NATO’s global agenda in the war on terror.15
NATO is quickly emerging as the police force for the transnational capitalist class. As the
TCC more fully emerged in the 1980s, coinciding with the collapse of the Soviet Union,
NATO began broader operations. NATO first ventured into the Balkans, where it remains,
and then into Afghanistan. NATO started a training mission in Iraq in 2005, has recently
conducted operations in Libya, and, as of July 2013, is considering military action in
Syria. Superclass use of NATO for its global security is part of an expanding strategy for
US military domination around the world, whereby the US/NATO military–industrial–
media empire operates in service to the TCC for the protection of international capital
anywhere in the world.16
The most recent work on the TCC is William K. Carroll’s The Making of a Transnational
Capitalist Class (2010).17 Carroll’s work focused on the consolidation of the transnational
corporate-policy networks between 1996 and 2006. He used a database of the boards of
directors of the global 500 largest corporations, showing the concentrated
interconnectedness of key corporations and a decreasing number of people involved.
According to this analysis, the average size of corporate boards has dropped from 20.2 to
14.0 in the ten years of his study. Furthermore, financial organizations are increasingly
the center of these networks. Carroll argued that the TCC at the centers of these networks
benefit from extensive ties to each other, thus providing both the structural capacity and
class consciousness necessary for effective political solidarity.
A 2011 University of Zurich study completed by Stefania Vitali, James B. Glattfelder,
and Stefano Battiston at the Swiss Federal Institute of Technology reported that a small
group of companies—mainly banks—wields huge power over the global economy.18
Applying mathematical models—usually used to model natural systems—to the
transnational corporations in the world economy, the study found that 147 companies
controlled some 40 percent of the world’s wealth.19

Project Censored Research on the 2013
Transnational Capitalist Class
Although sociological theorists conduct studies of the world’s power elite, these
researchers rarely identify specific members of the transnational capitalist class,
preferring instead to build theory for other academics to read and discuss, while avoiding
the particulars of who is actually involved.
The world’s corporate media pay absolutely no attention to academic concepts like
“transnational capitalist class.” Thus, a LexisNexis search of news coverage, completed
on June 3, 2013, using the term “transnational capitalist class,” returned only three news
stories in the past decade—two from foreign media, and the third a letter to the editor by
Leslie Sklair. The concept of a transnational capitalist class is absent from corporate news
coverage, which also does not address who constitutes this most elite, powerful group.
We think that the world needs to know who comprises the TCC and thus who makes the
financial decisions regarding global capital.
This is actually a fairly straightforward—if labor-intensive—research effort: most of the
information is not only public but also online. We started with the top ten most
centralized companies from the previously cited 2011 Swiss study.20 This identified the
world’s most centralized and interconnected financial organizations. We also wanted to
consider those groups managing the largest volumes of financial capital, so we added the
top asset management firms from 2012 to our data set.21 The following chart shows the
rankings in trillions of dollars of assets managed for the top thirty-five asset management
firms in the world.
Table 1: The World’s Top 35 Asset Management Firms, in Trillions of Dollars (2012)
1 BlackRock US $3,560
2 UBS Switzerland $2,280
3 Allianz Germany $2,213
4 Vanguard Group US $2,080
5 State Street Global Advisors (SSgA) US $1,908
6 PIMCO (Pacific Investment
Management Company) US $1,820
7 Fidelity Investments US $1,576
8 AXA Group France $1,393

9 JPMorgan Asset Management US $1,347
10 Credit Suisse Switzerland $1,279
11 BNY Mellon Asset Management US $1,299
12 HSBC UK $1,230
13 Deutsche Bank Germany $1,227
14 BNP Paribas France $1,106
15 Capital Research and Management
Company US $1,071
16 Prudential Financial US $961.0
17 Amundi France $880.0
18 Goldman Sachs Group US $836.0
19 Wellington Management Company US $719.8
20 Natixis Global Asset Management France $710.9
21 Franklin Resources (Franklin
Templeton Investments) US $707.1
22 Northern Trust US $704.3
23 Bank of America US $682.2
24 Invesco US $646.6
25 Legg Mason US $631.8
26 Nippon Life Insurance Company Japan $600.0
27 Legal & General Investment
Management UK $598.5
28 Generali Group Italy $581.5
29 Prudential UK $570.2
30 Ameriprise Financial US $543.6

31 T. Rowe Price US $541.7
32 Wells Fargo US $534.9
33 Manulife Financial Canada $513.8
34 Sun Life Financial Canada $496.3
35 TIAA-CREF US $481.0
Seven of the top ten asset management firms were in the top ten of the most centralized
firms from the Swiss study. We decided to identify the people on the boards of directors
of the top ten asset management firms and the top ten most centralized corporations. With
overlaps there is a total of thirteen firms in our study: Barclays PLC, BlackRock Inc.,
Capital Group Companies Inc., FMR Corporation: Fidelity Worldwide Investment, AXA
Group, State Street Corporation, JPMorgan Chase & Co., Legal & General Group PLC
(LGIMA), Vanguard Group Inc., UBS AG, Bank of America/Merrill Lynch, Credit Suisse
Group AG, and Allianz SE (Owners of PIMCO) PIMCO-Pacific Investment Management
Co. The boards of directors of these firms, totaling 161 individuals, represent the
financial core of the world’s transnational capitalist class (for more details see Appendix).
Collectively, they manage $23.91 trillion in funds and operate in nearly every country in
the world. The $23.91 trillion does not include the equity balances—which number in the
billions of dollars—that each of these firms holds in company assets. Nor does it include
the $18.8 trillion controlled by the next twenty-five most valuable asset management
firms.
The bank Barclays, the most wealth-centralized corporation in the world, sold its global
asset management division to BlackRock in 2009. The result is that BlackRock is now the
single largest asset management firm, though Barclays remains one of the most wealthcentralized firms with company assets of $2.42 trillion.22
Understanding the Financial Core of the
Transnational Capitalist Class
The 161 directors of the thirteen mostly centralized/largest asset management firms
represent the central core of international capital. As such, these 161 people share a
common goal of maximum return on investments for their clients and will seek to achieve
returns sometimes by any means necessary—legal or not.
Authorities have deemed the largest banks “too big to fail,” and have responded to the
banks’ criminal activities with weak reforms and no prosecutions.23 The American
government has refused to prosecute any officials from the multitude of banks who have
laundered billions of dollars for illegal drug cartels. Powerful banking corporations, such
as JPMorgan Chase, have continually refused to comply with American anti-money
laundering (AML) laws.24

This refusal to prosecute is often hailed as an honorable move that serves to protect all
individuals from devastation. Thus, Assistant Attorney General Lanny A. Breuer
explained the refusal to prosecute the bank HSBC:
Had the US authorities decided to press criminal charges, HSBC would almost certainly
lost its banking license in the US, the future of the institution would have been under
threat and the entire banking system would have been destabilized.25
Not only are these powerful corporations considered “too big to fail,” they appear to have
become too big to tell apart. Traditionally, banks have been understood as separate
entities, competing against one another in order to entice consumers to deposit funds and
invest. Such competition theoretically forces banks to compete to offer the best rates.
However, in reality, these banks found that competing against one another was less
profitable than working together. Realizing that their interests lie side by side, the
financial core of the TCC have been highly motivated to join forces—legally or not—to
manipulate laws, policies, and governments to their advantage.
The ramifications of the lack of competition in the banking industry are devastating.
Consider, for example, price-fixing scandals such as Libor or ISDAfix. JPMorgan Chase,
UBS, and Barclays (among thirteen others) were implicated in the Libor scandal,
falsifying the data that was used to create benchmark rates.26 Based on faked data, those
rates affected the prices of everything from auto, home, and student loans to credit cards
to mortgage and commercial loans, and even the price of currencies themselves. The
Financial Services Authority in the United Kingdom fined Barclays $450 million, and
several other banks are still under investigation.27
The ISDAfix scandal looks a lot like the Libor case. The same superpower banks are
currently under investigation to determine whether or not they manipulated ISDAfix, a
benchmark number used to calculate the prices of global interest rate swaps.28 Because
cities and sovereign governments use interest rate swaps to help manage their debts,
manipulation of those rates has far-reaching impacts, particularly for the poor and
working classes, as economic safety nets are subject to “austerity” measures—i.e., budget
cuts—that favor protection of financial capital.
Not only were rates illegally fixed and data falsified, but the offending banks also used
individual consumers’ investments to engage in criminal activity. The Vanguard Group
was accused of investing its clients’ money into illegal offshore gambling sites,
prompting a class-action lawsuit under the Racketeer Influenced and Corrupt
Organizations (RICO) Act. Vanguard did not deny such wrongdoing, but a judge
determined that when the plaintiffs (Vanguard’s clients) were harmed, they lost their
money due to the government’s crackdown on such illegal gambling, rather than due to
Vanguard’s investing in such sites.29 However, it is clear that if Vanguard had not invested
client money in illegal ventures, there would have been no negative repercussions from
such a government crackdown. As journalist Matt Taibbi declared, “Everything is
rigged.”30 Indeed it seems that the superpower corporate elite will never be made to pay
for their crimes against consumers—we have yet to see such a prosecution.

Vanguard Group and BlackRock are major investors in Sturm, Ruger & Co., a leading
firearms manufacturer.31 Though there is nothing illegal about such investments, we can
wonder about the consequences of such a pairing. With the expansion of private police
and military companies, the power elite seemingly are investing in the violent means with
which to maintain and further their power.
With money comes power, influence, and propaganda. BlackRock and numerous other
banks and Wall Street institutions are financially backing groups like Parent Revolution
and StudentsFirst, whose agendas are to privatize and subsequently corporatize the public
school system.32 The transnational capitalist class is laying the foundation for the
privatization of the world. If public, democratic institutions—including schools, post
offices, universities, the military, and even churches—become privately owned entities,
then corporate interests will truly dominate. Then, we become neo-feudal societies where
the reign of kings is replaced by private corporate ownership and the people serve as
peasants.
We do not claim that any single person identified in this study, as one of the 161
individuals at the financial core of the TCC, has done anything illegal. We only point out
that the institutional, structural arrangements within the money management systems of
global capital relentlessly seek ways to achieve maximum return on investment, and that
the conditions for manipulations—legal or not—always hold. As these institutions
become “too big to fail,” their scope and interconnections pressure government regulators
to shy away from criminal investigations, much less prosecutions. The result is a semiprotected class of people with increasingly vast amounts of money, seeking unlimited
growth and returns, with little concern for consequences of their economic pursuits on
other people, societies, cultures, and environments.
Estimates are that the total world’s wealth is close to $200 trillion, with the US and
Europe holding approximately 63 percent of that total; meanwhile, the poorest half of the
global population together possesses less than 2 percent of global wealth.33 The World
Bank reports that in 2008, 1.29 billion people were living in extreme poverty, on less than
$1.25 a day, and 1.2 billion more were living on less than $2.00 a day.34 Thirty-five
thousand people, mostly young children, die every day from starvation.35 So while
millions suffer, the TCC financial elites seek returns that speculate on the rising cost of
food, and they do this in cooperation with each other in a global system of TCC power
and control.
Who are the financial core of the transnational corporate class? As indicated above, the
financial core of the TCC are directors of banks and asset management firms. The 161
directors who manage the top thirteen firms have very similar backgrounds and training.
(See Appendix for names and affiliations. The full, detailed list is online at:
http://projectcensored.org/financial-core-of-the-transnational-corporate-class/).
Financial Core of the Transnational
Corporate Class

One hundred thirty-six of the 161 core members (84 percent) are male. Eighty-eight
percent are whites of European descent (just nineteen are people of color). Fifty-two
percent hold graduate degrees—including thirty-seven MBAs, fourteen JDs, twenty-one
PhDs, and twelve MA/MS degrees.
Almost all have attended private colleges, with close to half attending the same ten
universities: Harvard University (25), Oxford University (11), Stanford University (8),
Cambridge University (8), University of Chicago (8), University of Cologne (6),
Columbia University (5), Cornell University (4), the Wharton School of the University of
Pennsylvania (3), and University of California–Berkeley (3), which is a public institution.
Forty-nine are or were CEOs, eight are or were CFOs; six had prior experience at Morgan
Stanley, six at Goldman Sachs, four at Lehman Brothers, four at Swiss Re, seven at
Barclays, four at Salomon Brothers, and four at Merrill Lynch.
People from twenty-two nations make up the central financial core of the TCC. Seventythree (45 percent) are from the US; twenty-seven (16 percent) Britain; fourteen France;
twelve Germany; eleven Switzerland; four Singapore; three each from Austria, Belgium,
and India; two each from Australia and South Africa; and one each from Brazil, Vietnam,
Hong Kong/China, Qatar, the Netherlands, Zambia, Taiwan, Kuwait, Mexico, and
Colombia.They mostly live in or near a number of the world’s great cities: New York,
Chicago, London, Paris, and Munich.36
Members of the financial core take active parts in global policy groups and government.
Five of the thirteen corporations have directors as advisors or former employees of the
IMF. Six of the thirteen firms have directors who have worked at or served as advisors to
the World Bank. Five of the thirteen firms hold corporate membership in the Council on
Foreign Relations in the US. Seven of the firms sent nineteen directors to attend the
World Economic Forum in February 2013. Seven of the directors have served or
currently serve on a Federal Reserve board, both regionally and nationally in the US. Six
of the financial core serve on the Business Roundtable in the US. Several directors have
had direct experience with the financial ministries of European Union countries, the G8,
and the G20. Almost all of the 161 individuals serve in some advisory capacity for
various regulatory organizations, finance ministries, universities, and national or
international policy-planning bodies.
These 161 directors are part of Rothkopf’s superclass. Given their control over $23.91
trillion, Western governments and international policy bodies serve the interests of this
financial core of the TCC. Wars are initiated to protect their interests, and to promote the
free flow of global capital for investment anywhere that returns are possible. Identifying
the people with such power and influence is an important part of any democratic
movement seeking to protect our commons so that all humans might share and prosper.37
You can hear an extended interview with Peter Phillips about this article here.
appendix

Financial Core of the Transnational Capitalist Class (2013)
Citizenship, CB-Corporate Boards, PE-Prior Corporate Employment/Boards, PC-Policy
Councils & Government, E-Universities N=161
Barclays PLC (Assets $2.4 Trillion)
Antony Peter Jenkins, UK, CB-Group Chief Executive, Barclays PLC, PE-Citibank,
Visa Europe Ltd, Absa Group Limited, PC-World Economic Forum-2013, Chartered
Institute of Bankers, British-American Business—International Council, E-Oxford
University, Cranfield Institute of Technology-MBA
Sir David Alan Walker, UK, CB-Chairman, Barclays, PE-International Monetary Fund,
Bank of England, CEGB, Reuters Venture Capital, Morgan Stanley, Lloyds Bank, PCWorld Economic Forum-2013, Group of Thirty (G30), London Investment Bankers’
Association, Assistant Secretary at the Treasury, The Financial Services Authority (FSA)
UK, E-Queens College-MA Economics, Cambridge,
Frits van Paasschen, US, CB-CEO Starwood Hotels and Resorts Worldwide, Inc., PECoors Brewing Company-CEO, Nike Inc., Disney Consumer Products. Jones Apparel
Group Inc., Oakley Inc., FPaasschen Consulting, Mercator Investments, McKinsey &
Company, Boston Consulting Group, PC-World Economic Forum-2013, E-Amherst
College, Massachusetts, Harvard Business School-MBA
Michael Ashley, UK, CB-KPMG Europe LLP (‘ELLP’), Deloitte Touche Tohmatsu
Limited, The Financial Reporting Council Limited, PC-Institute of Chartered
Accountants in England and Wales, HM Treasury’s Audit Committee, European Financial
Reporting Advisory Group,
Hugh E. “Skip” McGee III, US, PE-Lehman Brothers Holdings Inc., CIB Americas, EPrinceton, University of Texas School of Law-JD
Tim Breedon, UK, CB- Index Funds PE-Legal & General Group plc, Standard Charter
Bank, Mithras Investment Trust plc. PC-Association of British Insurers (ABI) UK
Government’s non-bank lending taskforce, Investment Management Association,
Ministry of Justice. E-Oxford University, London Business School-MS-Business
Fulvio Conti, Italy, CB-CEO-Enel SpA, RCS MediaGroup, ENDESA SA, AON PLC,
Eurelectric, Trasmissione Elettricita Rete Nazionale SPA, PE-Telecom Italia SpA,
Montedison-Compart, Montecatini. Mobil Oil, Wind Telecomunicazioni SpA, PC-World
Economic Forum-2013, Confindustria-Italian Employers’ Federation, E- University of
Rome La Sapienza,
Ashok Vaswani Brysam, India, CB-Brysam Global Partners, PE-Citibank, Consumer
Bank, US Cards Business, PC-S. P. Jain Institute of Management Singapore, E-Bombay

University, Sydenham College of Commerce and Economics- Institute of Chartered
Accountants of India
Diane de Saint Victor, French, CB-ABB Limited, Baldor Electric Co., PE-EADS, SCA
Hygiene Products, Honeywell International, General Electric, Thales, Lyon-Caen, Fabiani
& Thiriez, PC-International Bar Association, E- Pantheon-Assas University, Paris Law
School-JD,
Shaygan Kheradpir Ph.D., UK, PE-Verizon Communications, GTE PC-National
Institute of Standards & Technology E-Cornell University-Ph.D. Electrical Engineering,
David George Booth, US, CB-East Ferry Investors Inc., PE-Morgan Stanley, Discount
Corporation of New York E-University of Kansas, University of Chicago-MBA
Simon John Fraser, UK, CB–Fidelity International, Fidelity European Values PLC,
Fidelity Japanese Values PLC., Ashmore Group Plc. H. Lundén Kapitalförvaltning AB,
The Edinburgh Investment Trust Plc, PE-FIL Investments International, Investment
Solutions Group Ltd. E-University of St. Andrews, Columbia University-MBA
Reuben Jeffery III, US, CB-CEO of Rockefeller & Co, PE-US Under Secretary of State
for Economic, Energy and Agricultural Affairs, Goldman Sachs & Co, Davis Polk &
Wardwell, Morgan Guaranty Trust Company, PC-National Security Council, Council on
Foreign Relations, World Economic Forum, Center for Strategic & International Studies
in Washington DC, Commodity Futures Trading Commission, International Advisory
Council of the China Securities Regulatory Commission (CSRC), E-Yale University,
Stanford University-JD,
Dambisa Moyo, Ph.D., Zambia, CB- SABMiller PLC, Barrick Gold Corporation,
Lundin Petroleum AB, PE-World Bank, Goldman Sachs, PC-World Economic Forum,
Bilderberg Group, E-St Antony’s College, Oxford-Ph.D., Harvard-Kennedy School of
Government-MPA, American University-MBA
Sir Michael Rake, UK, CB-BT Group PLC, easyJet PLC., PE-KPMG International,
McGraw-Hill Companies, PC-World Economic Forum-2013, The Prince of Wales’s
Charitable Foundation, Chatham House-Royal Institute of International Affairs, BritishAmerican Business—International Council, Confederation of British Industry, UKDepartment of Trade and Industry, International Business Leaders Forum, Oxford
Advisory Board, E-Wellington College
Sir John Sunderland, UK, CB-Chancellor of Aston University, Merlin Entertainments
Limited, AFC Energy plc., PE-Cadbury Schweppes PLC, CVC Capital Partners, PCConfederation of British Industry, Financial Reporting Council, Chartered Management
Institute, Business in the Community, Governor of Reading University, E-University of
St. Andrews.

Maria Ramos, South Africa, CB- Absa Group Ltd, PE-Transnet Limited PC- DirectorGeneral of the National Treasury, Business Trust (South Africa), International Business
Council, World Economic Forum-2013, World Bank Chief Economist Advisory Panel,
Business Leadership South Africa, Banking Association of South Africa, E-University of
the Witwatersrand (Wits), University of London-MS, Fortune-World’s 50 Most Powerful
Women in Business
BlackRock Inc. (Inc. Assets $22.3 billion)
Assets in management: $3.7 trillion
Laurence Fink, US, CB- PNC Financial Services Group Inc., Innovir Laboratories Inc.,
York Stock Exchange, Inc., PE-The First Boston Corporation, VIMRx Pharmaceuticals
Inc., E-University of California Los Angeles, Awards-CEO of the Decade-Financial News
2011
Robert S. Kapito, US, CB-icruise.com, PE-Bain & Co ,PC- Trustee, University of
Pennsylvania, International Monetary Conference, The Financial Services Roundtable, EHarvard Business School-MBA, Wharton School of the University of Pennsylvania.
James Rohr, US, CD-CEO, PNC Bank, EQT Corporation (Equitable Resources Inc.)
Mercantile Bankshares Corp., PC-Trustee of Carnegie Mellon University, The RAND
Corporation, Federal Reserve Bank of Cleveland, Bohemian Club, E-Notre Dame, Ohio
State-MBA,
Hsueh-Ming Wang, Taiwan, PE-Goldman Sachs, The Paulson Institute
Murry S. Gerber, US, CD-Halliburton, United States Steel Corp, PE-CEO of EQT,
Corporation, Shell Energy North America, PC-Pennsylvania Business Council, TrusteeAugustana College, E-Augustana College, University of Illinois-MA Geology
Thomas H. O’Brien, Jr., US, CB-CEO-PNC, McMahon Capital Advisors, LLC, PNC
Financial Services Group Inc., US Airways Group Inc, Confluence Technologies Inc.,
Verizon New England Inc., Porcelain Industries Inc., HMR Acquisition Company Inc.,
Cavert Wire Company Inc., Viasystems Inc., PE-Pittsburgh National Bank, Hilb Rogal &
Hobbs, Westinghouse Credit Corp. Co, PC-Trustee of University of Pittsburgh. E-Boston
College, University of Notre Dame, Harvard-MBA, University of Pittsburgh
Sir Deryck Charles Maughan, UK, CB-Kohlberg Kravis Roberts & Co., Nikko
Securities Co., Glaxosmithkline PLC, Thomson Reuters Corporation, PE-Salomon
Brothers Inc., The Goldman Sachs Group Inc., Salomon Smith Barney, Citicorp., PCTrilateral Commission, British American Business Inc. British-American Business
Council, New York Stock Exchange, Advisory Councils at Harvard and Stanford
Universities, E- King’s College, University of London, Graduate School of Business,
Stanford University-MS

David Komansky, US, CD-Fieldpoint Private Bank & Trust, AEA Investors LP, AEA
Investors LLC, Burt’s Bees, Discover Financial Services, Schering-Plough, PE-BofA
Merrill Lynch, Pierce, Fenner & Smith Incorporated, EP Technologies, Inc., Automated
Security (Holdings) PLC., New York Stock Exchange, NYSE Euronext, Inc., WPP Group
PLC, PC-British American Business Council, Trustee of Tsinghua University in Beijing,
E-University of Miami
James Grosfeld, US, CB-Copart, Inc. Interstate Bakeries Corporation, Addington
Resources Inc., PE-Pulte Homes, Inc., Championship Liquidating Trust, PC- Federal
National Mortgage Association, E-Amherst College, Columbia Law School-JD
William S. Demchak, CB-CEO-PNC Financial Services Group Inc., Hilliard Lyons
Research Advisors, The RBB Fund, Inc. Senbanc Fund, PE-J.P. Morgan Chase & Co.,
PC-World Affairs Council of Pittsburgh, The Financial Services Roundtable, EAllegheny College, University of Michigan-MBA
Susan Lynn Wagner, US, CB- RBB Fund, Inc.. Bogle Small Cap Growth Fund, Director
of DSP BlackRock Investment Managers, India, PE-Lehman Brothers, Founding Partner
BlackRock, E-Wellesley College, University of Chicago-MBA Finance
Dennis D. Dammerman, US, CB-Capmark Financial Group, Inc., General Electric
Capital Corp., Swiss Re Ltd., PE-Kidder Peabody Group Inc., Montgomery Ward
Holding Corp., Genworth Financial Inc., PC-Trustee of Skidmore College, E-University
of Dubuque.
Mathis Cabiallavetta, Swiss, CB-Union Bank of Switzerland, Swiss Re Ltd, Philip
Morris International, Inc., General Atlantic Partners, Altria, PE-Marsh & McLennan
Companies, Inc., PC-US Federal Reserve, Swiss American Chamber of Commerce,
British-American Business Council, E-University of Montreal, Queen’s University,
Kingston-MA-Economics, Ontario,
Abdlatif Al-Hamad, Kuwait, PD-Morgan Stanley, Marsh & McLennan Companies, Inc.,
American International Group, Inc., National Bank of Kuwait, PC-Arab Fund for
Economic and Social Development, Arab Planning Institute, Banking Advisory Board
Group (World Bank), Minister of Finance and Minister of Planning of Kuwait, United
Nations Committee for Development Planning, Commission on Global Governance, EClaremont College, Harvard International Affairs Program,
John Silvester Varley, UK, CB-CEO-Barclays PLC, British Grolux Investments
Limited, Rio Tinto Ltd. & Rio Tinto Plc, Astrazeneca PLC, PC-International Advisory
Panel of the Monetary Authority of Singapore, Trustee-Prince of Wales’s Charitable
Foundation, E- Oriel College, Oxford, London’s College of Law.
Ivan Seidenberg, US, CB-Perella Weinberg Partners LP, PE-CEO-Verizon
Communications, Cellco Partnership, Inc., American Home Products Corporation,
Wyeth, LLC Honeywell Technology Solutions, Viacom, PC-Chairman of Business

Roundtable, New York Academy of Sciences, President’s Export Council for U.S., E-City
University of New York, Pace University-MBA,
Thomas Montag, US, CB-Bank of America Corporation/Merrill-Lynch, GS Financial
Products, PE- Goldman Sachs Group Inc., First National Bank of Chicago, PC-World
Economic Forum-2013, The Partnership for New York City, Director of Securities
Industry and Financial Markets Association, E-Stanford University, Northwestern
University-MBA,
Marco Antonio Slim Domit,* Mexico, CB-CEO-Grupo Financiero Inbursa, S.A.B. de
C.V, Impulsora del Desarrollo y el Empleoen America Latina, S.A.B. de C.V, Impulsora
del Desarrollo y el Empleoen America Latina, S.A.B. de C.V, Afore Inbursa, S.A. de
C.V., Arrendadora Financiera Inbursa, S.A. de C.V., Operadora Inbursa de Sociedades de
Inversion, S.A. de C.V., Seguros Inbursa, S.A., Sears Roebuck, America Telecom,
America Movil, S.A. the C.V., Carso Global Telecom S.A. de CV., U.S. Commercial
Corp., S.A. the C.V., CompUSA and Grupo Carso S.A. de C.V. PE-Director of Telefonos
de Mexico, S.A.B. de C.V, E-Universidad Anahuac, *Son of Carlos Slim Helú rated as
richest person in the world by Forbes Magazine—estimated wealth $70 billion.
Fabrizio Freda, Italy, CB-CEO-The Estée Lauder Companies Inc., PE-Procter &
Gamble Company, P&G/The Coca-Cola Company LLC, E-University of Naples,
Jessica P. Einhorn, Ph.D., US, CB-Dean at Paul H Nitze School of Advanced
International Studies of the Johns Hopkins University, Time Warner Inc., PE-Clark &
Weinstock, International Monetary Fund, World Bank, United States Treasury, United
States State Department, International Development Cooperation Agency of the United
States, Pitney Bowes Inc., PC-Trilateral Commission, Council on Foreign Relations,
Trustee for the Rockefeller Brothers Fund., Peterson Institute for International
Economics, Center for Global Development, National Bureau of Economic Research, EBarnard College at Columbia University, SAIS-John Hopkins-MA, Princeton UniversityPh.D. Political Science
Capital Group Companies Inc.
Assets Management: $1.07 Trillion
David Isador Fisher, US, CB-Colonial First State (FirstChoice), Capital International
Global Share, Capital Guardian and Trust Company, AEGON/Transamerica Series TrustCapital Guardian Global Portfolio, JNL Series Trust-JNL/UBS Large Cap Select Growth
Fund, Vantagepoint Growth & Income Fund, Pacific Select Fund-Equity Portfolio; John
Hancock Trust-Overseas Equity Trust, PE-Smith Barney & Co, General Electric
Company, PC-International Monetary Fund Retirement Plan, Monetary Authority of
Singapore, Trustee-Lowe Institute, Harvard-Westlake School, Claremont McKenna
College, UCLA School of Public Policy and Social Research, E-University of California
at Berkeley, University of Missouri-MBA,

Martin E. Diaz Plata, Columbia, CB-Managing Partner Capital Group, PE-Donaldson,
Lufkin & Jenrette (now Credit Suisse), DLJ Merchant Banking Partners, Corporacion
Financiera del Valle in Bogota E-Universidad Externado de Colombia, Columbia
University Graduate School of Business-MBA
Ashley Dunster, Australia, CB-Managing Partner Capital Group, PE-European Bank for
Reconstruction and Development, L|E|K Partnership, E-University of Melbourne, Oxford
University
Koenraad Foulon, Belgium, CB-Managing Partner Capital Group, PE-Shearson Lehman
Global Asset Management, Posthorn Global Asset, Morgan Guaranty Trust Company
Banque DeGroof in Brussels, E-University of Louvain, Belgium.
Shaw B. Wagener, US, CB-Capital Group International, Capital Guardian Trust
Company, PC-Los Angeles Society of Financial Analyst, E-Claremont McKenna College
Leonard L. Kim, Singapore, CB-Managing Partner Partner Capital Group, PE-Peregrine
Capital Limited, Kimbaco Limited-Korea, The First Boston Corporation, E-Stanford
University
Guilherme Lins, Brazil, Managing Partner Capital Group, PE-JPMorgan, Matuschka
Group, E-Universidade Federal do Rio de Janeiro, École des Hautes Études
Commerciales-HEC
Lam Nguyen-Phuong, Vietnam (US), CB-Managing Partner Capital Group, PEErmgassen & Co. Ltd, JP Morgan & Co., RepublicBank Dallas. École Centrale (Paris,
France), Stanford University-MBA
FMR Corporation: Fidelity Worldwide Investment (Family Controlled)
Assets Management: $1.7 Trillion
Edward Crosby Johnson III, US, CB-CEO-Fidelity, Trustee of Fidelity Commonwealth
Trust, FMR Corp, ARI Holdings Inc., Greenery Rehabilitation Group Inc., Premier
BanCorp Inc, Crocker Realty Investors Inc, Dr. Solomon’s Group PLC, and ForSoft Ltd.,
Regal Communications Corp., E-Harvard,
Abigail Pierrepont Johnson, US, CB-President-Fidelity Financial Services, L.L.C. PEBooz Allen & Hamilton, PC-Trustee of Fidelity Commonwealth Trust, Massachusetts
Institute of Technology, E-Hobart and William Smith Colleges, Harvard Business-MBA
Ned C. Lautenbach, US, CB-Clayton, Dubilier & Rice, Inc., PE-IBM, Covansys Corp.,
Acterna Corp., Providian Corp., Eaton Corp., Italtel Holding S.p.A, Axcelis Technologies
Inc., Sony Corp., PC-Council on Foreign Relations, Trustee of Fairfield University,
University of Cincinnati Foundation, Board of Governors State University Florida, EUniversity of Cincinnati, Harvard Business-MBA,

AXA
Assets Management: $1.4 Trillion
Claude Bébéar, France, CB-Honorary Chairman of AXA, Vivendi, BNP Paribas,
Schneider Electric, PC-Institut Montaigne, E-Institute of Actuaries of France
Henri de Castries, France, CB-CEO-AXA, Nestlé, PE-French Treasury Department,
Rhône-Poulenc Group, E-Ecole des Hautes Etudes Commerciales,
Norbert Dentressangle, France, CB-Financière Norbert Dentressangle, Dentressangle
Initiatives (SAS) (formerly Financière de Cuzieu (SAS)), ND Investissements (SAS),
SEB SA, Vivendi, SOFADE. PE-FINAIXAM.
Jean-Pierre Clamadieu, France, CB-Solvay, Rhodia. Faurecia, SNCF, PE-Ministry of
Labour, PC-World Economic Forum 2013, Franco-Brazilian Business Council, Int’l
MEDEF. European Chemical Industry Council. Member, Int’l Chemical Industry
Council; E-Ecole Nationale Supérieure des Mines of Paris, Ingénieur du Corps des
Mines, Awards: National Order of Merit, 2009,
Denis Duverne, France, CB-MONY Life Insurance Company, PE-Corporate Taxes
Department for the French Ministry of Finance, Compagnie Financière IBI., Banque
Colbert, E-École des Hautes Études Commerciales (HEC), École Nationale
d’Administration (ENA),
Jean-Martin Folz, France: CB-Eutelsat Communications,. Compagnie de Saint-Gobain,
ONF-Participations (SAS), Société Générale, Solvay (Belgium), PE-Peugeot SA
E-École Polytechnique and ingénieur des Mines
Anthony Hamilton, UK, CB-MONY Life Insurance Company (United States), Tawa plc
(United Kingdom), Binley Limited (United Kingdom), Swiss Re Capital Markets Limited
(United Kingdom) PE- Schroders, Morgan Grenfell, and Wainwright, Fox-Pitt & Kelton,
PC- The Game & Wildlife Conservation Trust (United Kingdom), E-Oxford University
Isabelle Kocher, France, CB-Arkema, Suez Environnement, International Power Plc
(IPR) (United Kingdom), PE-GDF SUEZ., PC-Advisor on Industrial Affairs of the
French Prime Minister Office, E-Ecole Normale Supérieure, Rue d’Ulm, Paris, France;
Engineer of the Corps des Mines; DEA (postgraduate degree) in quantum optics and
aggregation in Physics
Suet Fern Lee, Singapore, CB-Stamford Law Corporation (Singapore), Sanofi,
Macquarie International Infrastructure Fund Ltd (Bermuda), Rickmers Trust Management
Pte Ltd (Singapore), Nanyang Technological University, National University of

Singapore Business School, PE-IPBA (Singapore), China Aviation Oil, Corporation
Limited, ECS Holdings Limited, Richina Pacific Limited (Bermuda), SembCorp
Industries Limited (Singapore), Sincere Watch (Hong Kong) Limited (Hong Kong),
Transcu Group Limited, E-Cambridge University-Law
Stefan Lippe, German, CB-German Insurance Association for Vocational Training
(BWV) (Germany), Acqupart Holding AG, Acqufin AG., Extremus Insurance Ltd. PEBavarian Re., Swiss Re., PC-World Economic Forum, E-University of Mannheim,
François Martineau, France, CB-SCP Lussan & Associés, Associations Mutuelles Le
Conservateur, Bred Banque Populaire, Ecole Nationale de la Magistrature (ENM), PELaw and Political Sciences School of Lima , Peru, PC-Council of Europe, Law
Consultant Eastern Europe,, E-University Paris IV (Philosophy Degree), University Paris
I (Law Master), l’Institut d’Études Politiques de Paris,
Deanna Oppenheimer, US-UK, CB-CameoWorks, NCR Corporation, Tesco PLC (UK)
PE-Washington Mutual, Barclays, Catellus, Plum Creek, E-University of Puget Sound,
Kellogg School of Management at Northwestern University
Ramon de Oliveira, France, CB-Investment Audit Practice, LLC, JACCAR Holdings
SA (Luxembourg), MONY Life Insurance Company, Quilvest (Luxembourg), TaittingerKobrand, PE-Logan Pass Partners LLC, Kauffman Foundation, American Century
Company, Inc., JP Morgan, SunGard Data Systems, The Hartford Insurance Company,
The Red Cross, E-University of Paris, Institut d’Études Politiques (Paris)
Michel Pébereau, France, CB-BNP Paribas, Compagnie de Saint-Gobain, Total, Banque
Marocaine pour le Commerce et l’Industrie (BMCI) (Morocco), BNP Paribas SA
(Switzerland), EADS N.V. (Netherlands), Pargesa Holding S.A. PE-Crédit Commercial
de France, BNP Paribas, PC-Conseil d’Orientation de l’Institut de l’Entreprise, Aspen
Institute, Fédération Bancaire Européenne, Institut de l’Entreprise, Lafarge, E-École
Polytechnique, École Nationale d’Administration (ENA).
Dominique Reiniche, France, CB-ECR Europe (Belgium), PE-The Coca-Cola Company
Europe, Procter & Gamble, PC-MEDEF (French Employer Federation), UNESDA
(Union of European Beverages Associations) (Belgium), Vice-Chairman, FDE (Food &
Drink Europe) E-ESSEC Business School in Paris
Marcus Schenck Ph,D,. Germany, CB- E.ON AG (Germany), Commerzbank AG
(Germany), SMS Group GmbH (Germany), HSBC Trinkaus & Burkhardt AG
(Germany), PE-Goldman, Sachs & Co., oHG, McKinsey & Co, PC-Berlin Center of
Corporate Governance (Germany)Capital Markets Advisory Council to the German
Finance Minister (Germany) E-University Bonn, UC Berkeley, University of Cologne,
State Street Corporation
Assets management: $1.9 trillion

Joseph (Jay) L. Hooley, US, CB-President-State Street Corp., Boston Financial Data
Services, National Financial Data Services, PC-Boston College Center for Asset
Management, Corporate Advisory Board, The Boston Club, E-Boston College
Kennett F. Burnes, US, CB-CEO-Cabot Corporation, Watts Water Technologies, PEChoate, Hall & Stewart, E-Harvard University BA-JD
Peter Coym Ph.D., Germany, PE-Lehman Brothers Holdings Inc., Salomon Brothers
AG, Magix AG, (Börsenrat), Eurex, PC-Association of Foreign Banks, German Deposit
Protection Fund, German Central Capital Market Committee, Advisor-German
Bundesbank & German Minister of Finance, E-University of Hambur
Patrick de Saint-Aignan, US-France, CB-European Kyoto Fund, Allied World
Assurance Company Holdings AG, PE-Morgan Stanley, IXIS Corporate and Investment,
Bank of China Limited, Natixis Corporate & Investment Bank, E-Ecole des Hautes
Etudes Commerciales, Harvard University-MBA,
Dame Amelia C. Fawcett, US-UK, CB- Guardian Media Group plc, Investment AB
Kinnevik, PE-Morgan Stanley, Sullivan & Cromwell, Pensions First LLP, PC-Hedge
Fund Standards Board, Prince of Wales’s Charitable Foundation, Governor, London
Business School, Commissioner, US-UK Fulbright Commission, E-Wellesley College,
University of Virginia-JD, Awards-Dame Commander of the Order of the British
Empire-2010
David P. Gruber, US, CB-Stone Panels, Inc., Nanocomp Technologies Inc., PE-CEO-,
Wyman-Gordon Company, Cambridge Semantics Inc., PC-Trustee, Manufacturers
Alliance for Productivity and Innovation, E-Ohio State University
Linda A. Hill Ph.D., US, CB-Harvard Business School: Wallace Brett Donham
Professor of Business Administration, Cooper Industries, Harvard Business Publishing,
PC-Trustee, Bryn Mawr College, The Bridgespan Group, Nelson Mandela Children’s
Fund USA, E-Bryn Mawr College, University of Chicago-Ph.D.
Robert S. Kaplan, US, CB-Professor of Management Practice, Harvard Business
School, Berkshire Partners LLC, Indaba Capital Management, LLC, PE-Goldman Sachs
Group, Bed, Bath & Beyond, Inc, PC-Harvard Management Company, Draper, Richards,
Kaplan Foundation, Trustee, Ford Foundation, E-MIT-MS-Electrical Engineering,
Cornell University-Ph.D.
Richard P. Sergel. US, CB-Emera, Inc., PE-CEO-North American Electric Reliability
Corporation, New England Electric System (National Grid USA), PC-Director of The
Greater Boston Chamber of Commerce, Consortium for Energy Efficiency, E-Florida
State University, North Carolina State University, University of Miami-MBA,
Ronald L. Skates, US, CB-Raytheon Company, Courier Corporation, Gilbane, Inc., PECEO-Data General Corp., PricewaterhouseCoopers, Cabot Microelectronics Corp. EHarvard, BA-MBA

Gregory L. Summe, US, CB-Global Buyout, Carlyle Group, Automatic Data Processing,
Inc., PE-Goldman Sachs Capital Partners, PerkinElmer, Inc., General Aviation Avionics,
AlliedSignal (Honeywell International), General Electric, McKinsey & Co. PCConference Board, E-University of Kentucky, University of Cincinnati, Wharton School
of the University of Pennsylvania-MBA
Robert E. Weissman, US, CB-Pitney Bowes Inc., Information Services Group, Inc.,
Cognizant Technology Solutions Corp., Shelburne Investments, Nielsen Media Research
Inc., Director of Gartner Group, Inc., EntreCap Financial LLC, PE-IMS Health Inc., of
Dun & Bradstreet Corp., E-Babson College,

J. P. Morgan Chase & Co.
Assets management: $1.34 Trillion
James A. Bell, US, CB-The Boeing Company, PE-Rockwell, Dow Chemical, PCTrustee at Center for Strategic and International Studies Inc, World Business Chicago,
Chicago Economic Club, E-California State University at Los Angeles.
Crandall C. Bowles, US, Springs Industries, Inc., Deere & Company of Sara Lee
Corporation, PE-Wachovia Corporation, PC-The Business Council, Trustee-Brookings
Institution, Global Research institute of UNC-Chapel Hill, The Committee of 200,
Economic Club of New York, The University of North Carolina Press, E-Wellesley
College, Columbia University-MBA,
Stephen B. Burke, US, CB-NBCUniversal, LLC, Comcast Corporation, Berkshire
Hathaway, PE-Walt Disney Company-ABC Broadcasting-President, E-Colgate
University, Harvard Business School-MBA,
David M. Cote, US, CB-Honeywell International Inc., Advisor-Kohlberg Kravis Roberts
& Co., PE-CEO-TRW Inc., General Electric, PC-Business Roundtable, National
Commission on Fiscal Responsibility and Reform, U.S.-India CEO Forum, E-University
of New Hampshire
James S. Crown, US, CB-Henry Crown and Company, General Dynamics Corporation,
Sara Lee Corporation, JPMorgan Chase Bank, N.A, Bank One Corp., First Chicago NBD
Corp., PE-Salomon Brothers Inc., Capital Markets Service Group, Hillshire Brands
Company, PC-World Business Chicago, PEC Israel Economic Corp., The Aspen Institutetrustee, University of Chicago-trustee, E-Hampshire College, Stanford University Law
School,
James Dimon, US, CB-CEO-JP Morgan Chase, PE-Citigroup Inc., Travelers Group,
Commercial Credit Company, American Express Company, PC-The Federal Reserve

Bank of New York, World Economic Forum-2013, Trustee-New York University School
of Medicine, E-Tufts University, Harvard Business School-MBA,
Timothy P. Flynn, US, CB-Wal-Mart Stores, Inc., PE- KPMG LLP, PC-World Economic
Forum’s International Business Counsel, Business Roundtable, Financial Accounting
Standards Board, The Prince of Wales’ International Integrated Reporting Committee, EUniversity of St. Thomas, St. Paul, Minnesota,
Ellen V. Futter, US, CB-Consolidated Edison, Inc., PE- President of Barnard College,
Milbank, Tweed, Hadley & McCloy, American International Group Inc., Bristol-Myers
Squibb Company, Viacom, AIG Aviation Inc., CBS Inc., PC-Council on Foreign
Relations, The American Ditchley Foundation and NYC & Company, Federal Reserve
Bank of New York, President of the American Museum of Natural History, E-Barnard
College, Columbia Law School
Laban P. Jackson, Jr., US, CB- Clear Creek Properties, Inc., Gulf Stream Home,
Garden, Inc., TBN Holdings, PE-Home Depot, SIRVA, IPIX Corporation, Bank One, PCFederal Reserve Bank of Cleveland, E-United States Military Academy
Lee R. Raymond Ph.D., US, CB-Advisor-Kohlberg Kravis Roberts & Co., Decision
Sciences Corporation, PE-CEO- ExxonMobil, PC- Business Council for International
Understanding, National Petroleum Council, American Enterprise Institute, Roundtable’s
Policy Committee, The Business Council, The Business Roundtable, Council on Foreign
Relations. President’s Export Council, National Petroleum Council, E-University of
Wisconsin, University of Minnesota-Ph.D. Chemical Enginnering,
William C. Weldon, US, CB-Chairman-Johnson & Johnson, PE-Korea McNeil, Ltd,
Ortho-Cilag Pharmaceutical, Ltd., Janssen Pharmaceutica, Ethicon Endo-Surgery, PCUS-China Business Council, The Business Council, Business Roundtable,
Pharmaceutical Research and Manufacturers of America, E-Quinnipiac University

Legal & General Group PLC (LGIMA)
Assets management: $598 Billion
John Morrison Stewart, Australian, CB-Chairman-Legal & General Group PLC, Telstra
Corporation, Court of the Bank of England, PE-CEO-Woolwich, Deputy CEO-Barclays,
National Australia Bank, PC-Australian Federal Attorney General’s Business Advisory
Group, Scottish Enterprise’s International Advisory Board, Australian Prime Minister’s
Task Group on Emissions Trading, Business Council of Australia, E-BA, ACII and FCIB
Degrees
Nigel Wilson Ph.D., UK, CB-The Capita Group plc, PE-United Business Media PLC,
Halfords Group Plc, Dixons Group Plc, Guinness Peat Aviation (G.P.A.), Stanhope
Properties Plc, McKinsey & Co, Deloitte Haskins & Sells,, E-Warwick University, MITPh.D. Kennedy Scholar,

Mark Zinkula, US, CB-CEO-LIGMA, PE-Principal Financial Group, Cornell College,
PC-Investment Management Association, E-University of Iowa, BA-MBA, London
School of Economics.
Mark Gregory, UK, PE-Kingfisher Plc and ASDA. E Chartered Accountant with PwC.
John Pollock, UK, E-Strathclyde University.
Henry Staunton, UK, CB-Standard Bank Plc, The Merchants Trust Plc, New Look
Retailers Limited and Capital & Counties Properties Plc., WH Smith PLC, PE-Price
Waterhouse, Media Ventures at ITV plc., Box clever Technology, ITV Plc, Granada
Group Plc, Ashtead Group Plc, EMAP PAP Plc, Independent Television News Limited,
Vector Hospitality Plc, Ladbrokes Plc., New Look Group Limited, PC-Xfi Centre for
Finance and Investment, E-Exeter University
Mike Fairey, UK, CB-Horizon Acquisition Company Plc, Vertex Data Science, Northern
Rock Plc, Danske Bank AS, Vertex Group Limited,The Energy Saving Trust Limited,
Lloyds TSB Group Pension Trust Ltd.-Chairman, PE-Deputy Group Chief Executive,
Lloyds TSB Group Plc, Barclays Bank, Northern Rock plc, PC-British Quality
Foundation, Trustee-Consumer Credit Counselling Service, E-AIB -Associate, Chartered
Institute of Bankers
Rudy Markham, UK, CB-Standard Chartered Plc United Parcel Service Inc, UCL
Partners Ltd, AstraZeneca Plc, Legal & General Group Plc, A Brain Co., Ltd.,
JohnsonDiversey Holdings, Inc., CSM nv, PE-CEO-Unilever Plc-Japan-Australia, PCFinancial Reporting Council, NHS Foundation Trust, E- Christ’s College, Cambridge
University MS-Natural Sciences
Stuart Popham, UK, CB-EMEA Banking for Citigroup Inc, Legal & General Insurance,
The Barbican Centre Trust, PE-Senior Partner of Clifford Chance LLP, PCConfederation of British Industry’s (CBI), Royal Institute of International Affairs,
Chairman of City UK, Advisor-Saïd Business School-University of Oxford, Council of
the RNLI, Birkbeck University of London, Member of Chatham House, London Council
of the CBI-Chair, E Southampton University-Law
Nick Prettejohn, UK, CB- Brit Insurance Limited, Legal & General Group Plc, Egg Plc.,
Brit Insurance Holdings N.V. PE-Chief Executive of Lloyd’s of London, CEO-Prudential
UK & Europe, Prudential Plc., Bain and Company, Director of Anglo & Overseas PLC,
PC-Oxford Union Society, Financial Services Practitioner Panel, E- Taunton School,
Somerset, Balliol College, Oxford
Julia S. Wilson, UK, CB-3i Group plc, PE-3i Group plc, Finance at Cable & Wireless
Communications Plc., Arthur Anderson, Hanson PLC , Tomkins PLC., PC-ICAEW The
Institute of Chartered Accountants in England and Wales (ACA), Chartered Institute of
Taxation. E-University of Surrey

Lindsay Tomlinson, UK, CB- BlackRock Advisors (UK) Limited. PE-Barclays Global
Investors, BZW Asset Management, Provident Mutual, Woolwich Unit Trust Managers
Ltd, PC-Chairman of the Code Committee of the Takeover Panel, Limited Chairman of
the UK’s National Association of Pension Funds, Investment Management AssociationChair, Financial Reporting Council, National Association of Pension funds-NAPF,
Investment Council, E-Cambridge University

Vanguard Group Inc.
Assets management: $2.1 Trillion
F. William McNabb III, US, PC-Investment Company Institute’s Board of Governors.
Zoological Society of Philadelphia, United Way of Greater Philadelphia and Southern
New Jersey, E- Dartmouth College, M.B.A.-Wharton School of the University of
Pennsylvania.
Emerson U. Fullwood, US, CB-Minett Professor at the Rochester Institute of
Technology, North Carolina A&T University, SPX Corporation, Amerigroup Corporation,
PE-Xerox Corporation, General Signal Corporation, PC-United Way of Rochester,
University of Rochester Medical Center, Monroe Community College Foundation, Urban
League, Colgate Rochester Crozier Divinity School, E-North Carolina State University,
Columbia University-MBA
Rajiv L. Gupta, India-US, CB-New Mountain Capital, Delphi Automotive LLP, Tyco
International, Ltd., Hewlett-Packard Company, PE-President-Rohm and Haas Co., Scott
Paper Company, Ducolite International, PC-The Conference Board-Trustee, American
Chemistry Council, Society of Chemical Industry, Drexel University-Trustee, E- Indian
Institute of Technology, Cornell University, Drexel University-MBA
Amy Gutmann Ph.D., US, CB- President of the University of Pennsylvania, PCCarnegie Corporation of New York, National Commission on the Humanities and Social
Sciences. National Constitution Center-Trustee, Presidential Commission for the Study of
Bioethical Issues, Global Colloquium of the University Presidents-advisors to the
Secretary General of the U.N., E-Harvard-Radcliffe College, London School of
Economics, Harvard University-Ph.D. Political Science
JoAnn Heffernan-Heisen, US, CB-Skytop Lodge Corporation, PE-Johnson & Johnson,
Primerica Corporation. Kenmill Textile Corporation, Chase Manhattan Bank, PC-Robert
Wood Johnson Foundation, University Medical Center at Princeton, Maxwell School of
Citizenship and Public Affairs at Syracuse University, Center for Talent Innovation, ESyracuse University
F. Joseph Loughrey, US, CB-Hillenbrand, Inc., SKF AB, PE- Cummins Inc., PCNational Association of Manufacturers, Kellogg Institute for International Studies at the

University of Notre Dame, Chicago Council on Global Affairs, Lumina Foundation for
Education, Oxfam America, E-University of Notre Dame,
Mark Loughridge, US, CB-CFO-IBM, IBM’s Retirement Plan Committee, IBM Credit
LLC., E-Stanford University, University of Chicago-MBA, Ecole Nationale Superieure
de Mecanique in Nantes, France,
Scott C. Malpass, US, CB-Manager-Notre Dame’s $3.5 billion endowment, PE-St.
Joseph Capital Corp. The Bank of New York Mellon, Irving Trust Company, PC- Round
Table Healthcare Management, LLC., The Investment Fund for Foundations, EUniversity of Notre Dame-BA-MBA
André F. Perold, US-South Africa, CB-HighVista Strategies, Rand Merchant Bank, PEProfessor of Finance and Banking at the Harvard Business School, Author-The Global
Financial System: A Functional Perspective, 1995, E-University of the Witwatersrand,
Johannesburg, Stanford University Ph.D.,
Alfred M. Rankin, Jr., US, CB-CEO- NACCO Industries, Goodrich Corp., Hamilton
Beach Brands, Inc., The Kitchen Collection, LLC, The North American Coal
Corporation, PE-Eaton, McKinsey and Company, Standard Products Co., Reliance
Electric Company, PC- National Association of Manufacturers, Federal Reserve Bank of
Cleveland-Chairman, E-Yale-BA-JD,
Peter F. Volanakis, US, CB- SPX Corporation, CCS Holding, Inc., PE-CEO-Corning
Incorporated, PC-Overseer School of Business Administration at Dartmouth College, EDartmouth College-BA-MA,

UBS AG
Assets management: $2.3 Trillion
Axel A. Weber Ph.D., German, PE-German Bundesbank-President, Professor for
international economics University of Cologne, Professor for monetary economics
Goethe University, PC-European Central Bank, Bank for International Settlements,
International Monetary Fund, G7, G20, World Economic Forum-2013, European
Systemic Risk Board, Financial Stability Board, German Council of Economic Experts,
E-University of Constance, University of Siegen-Ph.D.
Michel Demaré, Belgian, CB-ABB-CFO, Syngenta AG, Global Markets, PE-Baxter
International Inc., Dow Chemical Company, Continental Illinois National Bank of
Chicago, PC-IMD Foundation, E-Université Catholique de Louvain, Katholieke
Universiteit Leuven- Belgium-MBA
David Sidwell, US-UK, CB-Apollo Global Management-AGM LLC, MSCI Inc. Oliver
Wyman, PE-Morgan Stanley-CFO, Investment Bank, J.P. Morgan & Co. Inc.,

PricewaterhouseCoopers, PC-Director of Fannie Mae, National Council on Aging,
Federal National Mortgage Association, International Accounting Standards Committee
Foundation, E-Cambridge University, Institute of Chartered Accountants in England and
Wales
Rainer-Marc Frey, Swiss, CB- Horizon21 AG, DKSH Group, PE-RMF Investment
Group-CEO, Man Group plc, Invision Private Equity AG., Salomon Brothers, Merrill
Lynch, Capital Dynamics AG, PC-World Economic Forum-2013, Frey Charitable
Foundation, Freienbach, E-University of St. Gallen
Ann F. Godbehere, UK-Canada, CB-AllSource Global Management AGM-LLC.,
Prudential plc, Rio Tinto, Rio Tinto Limited, Atrium Underwriters Ltd., Atrium
Underwriting Group Ltd., Arden Holdings Ltd., Bermuda. British American Tobacco plc.,
PE-Northern Rock-CFO, Swiss Re Group-CFO, Sun Life Financial, Canada) E- Certified
General Accountants Association of Canada
Axel P. Lehmann Ph.D., Swiss, Zurich Financial Services, Farmers Group, Inc., PEZurich American Insurance Company-CEO, Swiss Life in Zurich, PC-World Economic
Forum-2013, International Financial Risk Institute Foundation, Economiesuisse, EUniversity of St. Gallen, Wharton Advanced Management Program-MBA-Ph.D. Postgrad-Harvard Business School, Arizona State University
Wolfgang Mayrhuber, Austrian, CB-Infineon Technologies AG, Munich Re Group,
BMW Group, Lufthansa Technik AG, Austrian Airlines AG., HEICO Corporation, PEDeutsche Lufthansa AG-CEO, PC-Acatech (Deutsche Akademie der
Technikwissenschaften), American Academy of Berlin-Trustee, Technical College in
Steyr, Austria, E-Bloor Collegiate Institute in Canada-Mechanical Engineer,
Massachusetts Institute of Technology-Management Training
Helmut Panke Ph.D., German, CB-Microsoft Corporation, Singapore Airlines Ltd.,
Bayer AG., PE-BMW Group-CEO, McKinsey & Company, E- University of Munich,
Swiss Institute for Nuclear Research_Ph.D.
William G. Parrett, US, CB-Eastman Kodak Company, the Blackstone Group LP,
Thermo Fisher Scientific Inc., PE-Deloitte Touche Tohmatsu-CEO, PC-United States
Council for International Business, United Way Worldwide, E-St. Francis College, NYCPA,
Isabelle Romy Ph.D., Swiss, CB-Law Professor-University of Fribourg, Federal Institute
of Technology in Lausanne (EPFL), SIX Swiss Exchange, PE-Swiss Federal Supreme
Court, Boalt Hall School of Law, University of California, E- University of FribourgPh.D., University of Lausanne-Law JD,
Beatrice Weder de Mauro Ph.D., Swiss-Italian, CB-Professor of Economics-Johannes
Gutenberg University of Mainz, Roche Holding Ltd., Basel, ThyssenKrupp AG, Essen,
Deutsche Investitions- und Entwicklungsgesellschaft, Köln, PE-International Monetary

Fund (IMF), National Bureau of Economic Research, Centre for Economic Policy
Research in London, World Bank, PC-Federal Reserve Board-NY, World Economic
Forum 2013, German Council of Economic Experts, E-Cambridge, MA, Harvard
University, University of Basel-Ph.D.
Joseph Yam Chi-kwong,, Hong Kong, CB-China Society for Finance and Banking-VP,
Advisor- People’s Bank of China, China Construction Bank, Macroprudential
Consultancy Limited, Johnson Electric Holdings Limited., PE-Hong Kong Monetary
Authority-CEO, PC-Global Economics and Finance at the Chinese University of Hong
Kong, Hong Kong Institute of Bankers, China Society for Finance and Banking, E-St.
Paul’s College, University of Hong Kong
Luzius Cameron Ph.D., Swiss and Australian, PE-Investment Bank Warburg Dillon
Read, Global Rates Business in Zurich, Swiss Bank Corporation, Institute of Astronomy
at the University of Basel and European Southern Observatory, E-University of BaselPh.D. Astrophysics,
Sergio P. Ermotti, Swiss, CB-CEO-UBS AG, Bayerische Hypo- und Vereinsbank AG,
Bank Austria Wohnbau Gewinnscheine. PE-UniCredit, Milan, Bank Polska Kasa Opieki
Spolka Akcyjna , Merrill Lynch, Darwin Airline SA, Corner Bank SA, Citibank, BofA
Merrill Lynch, PC-London Stock Exchange Group, World Economic Forum 2013, EOxford University, Swiss Certified Banking Expert
Bank of America/Merrill Lynch
Assets management: $2.3 trillion
Charles O. Holliday, Jr., US, CB-DuPont Qualicon Inc.-CEO, Royal Dutch Shell plc,
CH2M HILL Companies, Ltd, John Deere Credit Company, Pioneer Hi-Bred
International Inc., HCA Inc., Lafarge SA., PE-EI DuPont de Nemours & Co.-CEO,
Catalyst Inc., PC-The Business Roundtable, World Business Council for Sustainable
Development, Business Council, Society of Chemical Industry, International Business
Council, National Infrastructure Advisory Council, National Infrastructure Advisory
Council, E-University of Tennessee-Engineering,
Susan S. Bies Ph.D., US, CB- Horizon National Corp.-VP, Zurich Financial Services
AG, PE- Professor of Economics, Rhodes College Professor of Economics at Wayne
State University, PC- Securities and Exchange Commission, Board of Governors of the
Federal Reserve System, Federal Reserve Bank of St. Louis, Financial Accounting
Standards Board, Financial Executives Institute, End Users of Derivatives Association,
American Bankers Association, Bank Administration Institute, American Economic
Association, Institute of Management Accountants, International Women’s Forum,
American Economic Association, E-State University College at Buffalo, Northwestern
University-Ph.D.

Frank P. Bramble, Sr, US, CB-MBNA Corp., Constellation Energy Group Inc.,
Lecturer-Towson University, PE-Maryland National Bank, MNC Financial Inc., Allfirst
Financial Inc., Allfirst Bank-CEO, Allied Irish Banks, p.l.c, Wilmington Trust Retirement
and Institutional Services Company, E-Towson University
Arnold W. Donald, US, CB-Atlas Holdings LLC., Wind Point Partners., Russell Brands,
LLC, Carnival plc, Crown Holdings, Bridgewell Resources LLC., BJC Health System,
Inc., BMO Financial Corp., PE- Monsanto Company-VP, TransCanada Corp.-CEO,
Merisant Company-CEO, Tabletop Holdings-CEO, Bank of Montreal, Harris Financial
Corporation, Efficas, Inc. Scotts Miracle-gro Co., Belden Inc., The Laclede Group Inc.,
DHR International, Inc., Oil-Dri Corp., Global Velocity Inc., PC- Boards of Carleton
College & Washington University, Grocery Manufacturers of America, United States
Russia Business Council, Eurasia Foundation, President’s Export Council, Kennedy
School of Government-Dean’s Council, E-Washington University, Carleton College,
University of Chicago Graduate-MBA,
Charles K. Gifford, US, CB-FleetBoston Financial Corp.-CEO, Massachusetts Mutual
Life Insurance Co., Stone Canyon Venture Partners, LP., CBS Corporation, PEBankBoston, N.A., PC-Presiding Trustee at NSTAR, Trustee of Northeast Utilities,
Trustee of Northeastern University, WGBH Public Broadcasting, E-Princeton University
Monica C. Lozano, US, CB-ImpreMedia, LLC. S, CEO-Publisher-La Opinión L.P.,
Lozano Communications, Inc., The Walt Disney Co., UnionBanCal Corporation,
SunAmerica Asset Management Corporation, PE-Tenet Healthcare Corp., PC-Council on
Foreign Relations, Trustee of the University of Southern California, Regent-University of
California, California HealthCare Foundation, The Rockefeller Foundation, National
Council of La Raza, President’s Council on Jobs and Competitiveness, E-University of
Oregon

Thomas J. May, US, CB-CEO-President Northeast Utilities, NSTAR Electric & Gas
Corporation, NSTAR Communications, Inc., BEC Funding II, L.L.C., Connecticut Light
and Power Company, Public Service Company of New Hampshire, Liberty Mutual
Holding Company, Inc., Liberty Financial Companies Inc., New England Business
Service Inc., DELUXEPINPOINT, PE-Cambridge Electric Light Company-CEO,
Boston Edison Company-CEO, Bankboston Corp., RCN Corporation, PC-Financial
Executives International, E-Stonehill College, Bentley College-MS Finance, Harvard
Business School’s Advanced Management Program
Brian T. Moynihan, US, CB-CEO-President-BofA, Chairman of Merrill Lynch & Co
Inc., General Partner of BofA Merrill Lynch Preferred Capital Trust III, BofA Merrill
Lynch Preferred Capital Trust IV, BofA Merrill Lynch Preferred Funding V LP and BofA
Merrill Lynch Preferred Funding IV LP, BlackRock Inc., PC-Brown University-Trustee,
E-Brown University, University of Notre Dame Law School-JD, Miami University-MA,

Lionel L. Nowell, US, CB-Pepsico, Inc.-VP, Reynolds American Inc., American Electric
Power Service Corporation, AEP Texas Central Company, PE-RJR Nabisco, Inc., Diageo
PLC, Pillsbury North America-CFO, Pizza Hut, Church & Dwight Co. Inc., Bottling
Group, LLC, PC-Executive Leadership Council, Financial Executive Institute, American
Institute of Certified Public Accountants, E-Ohio State University
Sharon Allen, US, PE-Deloitte LLP, Deloitte Touche Tohmatsu Limited, Catalyst, Inc.,
PC-National Board of the YMCA-Chair, President’s Export Council, Women’s
Leadership Board at the John F. Kennedy School of Government at Harvard, EUniversity of Idaho
Jack Bovender, US, CB-HCA Holdings, Inc., HCA Realty, Inc., EP Health, LLC,
Montgomery Regional Hospital, Inc., Brookwood Medical Center of Gulfport, VH
Holdings Inc. and Women’s and Children’s Hospital, Inc., PE-HCA Inc.-CEO, Tennessee
Valley Ventures, L.P. PC-Business Council, Committee for the Preservation of
Capitalism, American Hospital Association and the Federation of American Healthcare
SystemsDuke University-Trustee, E- Duke University-BA-MA,
Linda Parker Hudson, US, CB-BAE Systems Inc.,-CEO, Tanzania at BAE, PEGeneral Dynamics Corp., Martin Marietta, Lockheed Martin, Ford Aerospace, Harris
Corporation, PC-Aerospace Industries Association-Board, International Women’s Forum
and C200 E-University of Florida-Engineering
David Yost, US, CB-AmerisourceBergen Corp.-CEO, Exelis, Inc., Tyco International
Ltd., Marsh & McLennan Companies, Inc., HP Enterprise Services, LLC, Aetna Inc., PCInternational Federation of Pharmaceutical Wholesalers, University of PennsylvaniaTrustee, E-United States Air Force Academy, University of California at Los AngelesMBA,
Credit Suisse Group AG
Assets management: $1.8 Trillion
Urs Rohner, Swiss, PE-ProSiebenSat.1 Media AG, Unterfoehring, Lenz & Staehelin,
Attorneys at Law, Zurich, Sullivan & Cromwell LLP, New York, PC-Institute for
International Finance, World Economic Forum 2013, Institute International d’Etudes
Bancaires, E-University of Zurich,
Peter Brabeck-Letmathe, Austrian, CB-Chairman-Nestlé SA L’Oréal SA, Paris, Exxon
Mobil Corporation, Delta Topco (Formula 1), PC-World Economic Forum 2013,
European Round Table of Industrialists, E-University of World Trade, Vienna.
Jassim Bin Hamad J.J. Al Thani, Qatar, CB-Chairman-Qatar Islamic Bank, QInvest,
Damaan Islamic Insurance Co. (BEEMA); Q-RE LLC, CEO-Al Mirqab Capital LLC,
Qatar, Qatar Navigation Company, Qatar Insurance Company, Arcapita Bank, Bahrain, ERoyal Military Academy in England.

Iris Bohnet, Swiss, PC-World Economic Forum, Professor of Public Policy at the
Harvard Kennedy School, Massachusetts, Academic Dean of the Harvard Kennedy
School, Haas School of Business at the University of California at Berkeley, Advisory
Board of the Vienna University of Economics and Business Administration, E-University
of Zurich
Noreen Doyle, US, CB-Newmont Mining Corporation, QinetiQ Group Plc., Rexam Plc,
Macquarie European Infrastructure Fund, Macquarie Renaissance Infrastructure Fund,
PE-European Bank for Reconstruction and Development (EBRD) Bankers Trust
Company, PC-Women in Banking and Finance in London E-College of Mount Saint
Vincent, New York, Dartmouth College-MBA, Marymount International School, London
Jean-Daniel Gerber, Swiss, CP-Lonza Group, Swiss Investment Fund, PC-World Bank
Group, World Trade Organization, Economic and Financial Affairs at the Swiss Embassy
in Washington D.C. Swiss Swiss Federal Council to State Secretary, State Secretariat for
Economic Affairs, Swiss Federal Office of Migration (1994 to 2004), E-University of
Berne, Switzerland,
Walter B. Kielholz, Swiss, CB- Corsair Capital Ltd. Avenir Suisse, PE-General
Reinsurance Corporation, Zurich, PC-World Economic Forum 2013 International
Business Council, European Financial Services Roundtable, Monetary Authority of
Singapore, Advisory Council of the Mayor of Shanghai, Credit Suisse Research Institute,
E-University of St. Gallen, Switzerland,
Andreas N. Koopmann, Swiss, CB-Georg Fischer AG, CSD Group, Nestlé SA, Alstom
(Suisse) SA, PE-Bobst Group S.A., Swiss Federal Institute of Technology, International
Institute for Management Development (IMD), PC-Swissmem—Association of Swiss
Mechanical and Electrical Engineering Industries
Jean Lanier, French, PE-Euler Hermes, Pargesa Group Lambert Brussells Paribas
Group, PC-La Fondation Internationale de l’Arche, Ecole Centrale des Arts et
Manufactures, Paris, E-Cornell University, Awards-Chevalier de la Légion d’Honneur in
France
Kai S. Nargolwala, Singapore, CB-Singapore Telecommunications Ltd, Prudential Plc.,
Clifford Capital Pte. Ltd, Duke-NUS Graduate Medical School of Singapore, PE-Bank of
America, Peat Marwick Mitchell & Co., E-University of Delhi,
Anton van Rossum, Dutch, CB-Fortis, Royal Vopak NV, Solvay SA PE- McKinsey and
Company, PC-Netherlands Economics Institute, American European Community
Association, European Roundtable of Financial Services, E-Erasmus University-BAMBA
Richard E. Thornburgh, US, CB-Corsair Capital, Credit Suisse First Boston, Reynolds
American Inc., Winston-Salem, McGraw-Hill, New Star Financial Inc., PE-First Boston
Corporation, E-University of Cincinnati, Harvard Business School-MBA Finance

John Tiner, UK, CB-Lucida plc, Friends Life, Corsair Capital, PE-FSA, PC-Committee
of European Insurance and Occupational Pensions Regulators, European Securities
Regulators E-Kingston University, Awards-2008-Commander of the British Empire

Allianz SE (Owners of PIMCO)
Assets Management; $ 2.3 Trillion
and
PIMCO-Pacific Investment Management Company
Assets Management; $1.8 Trillion
Michael Diekmann, German, CB–Allianz SE (CEO) Siemens AG, BASF Wall Systems
Inc., Lufthansa AG PE- Dresdner Bank AG, Linde AG, BASF SE., Riunione Adriatica Di
Sicurta Spa, PC-World Economic Forum 2013, Geneva Association; European Financial
Services Round Table (EFR), EVIAN (Franco-German Roundtable), International
Business Leaders Advisory Council for the Mayor of Shanghai (IBLAC), Pan-European
Insurance Forum (PEIF), Stifterverband für die Deutsche Wissenschaft, Monetary
Authority of Singapore (MAS), E-Göttingen University
Oliver Bäte, German, CB-Allianz SE-CFO, PE-Westdeutsche Landesbank, McKinsey &
Company, New York, Professor at University of Cologne, German Air Force, PCChairman of CFO Forum, E-University of Cologne, New York University-MBA.
Manuel Bauer, German, PE-Zagrebacka Banka D.D., Bajaj Allianz Life Insurance
Company Ltd., ROSNO Group, E-Technical Engineering College-Vienna.
Gary C. Bhojwani, India, PE-Intercargo Corporation & Intercargo Insurance; Trade
Insurance Services, Avalon Risk Management-CEO, Fireman’s Fund Insurance Company,
Lincoln General Insurance Company-CEO, E-University of Illinois at ChampaignUrbana, University of Chicago-MBA.
Clement B. Booth, South Africa, CB-ACORD Corporation, PE- Chairman and CEO,
Aon Re International, London, PC-Director of Association of British Insurer, EUniversity of Witwatersrand Business School-Executive Development Program
Dr. Helga Jung, German, CB-UniCredit S.p.A. PE-Professor at the University of
Augsburg, E-University of Augsburg, Administration Doctorate.
Christof Mascher JD, Austrian, E-University of Vienna, University of InnsbruckDoctorate Law.

Jay Ralph, US, PE-Arthur Andersen & Company, Northwestern Mutual Life Insurance
Company, Centre Re Bermuda Ltd., Zurich Re, Fireman’s Fund Insurance Company. EUniversity of Wisconsin, University of Chicago-MBA Finance.
Dieter Wemmer Ph.D., Hope you are doing well.
Werner Zedelius Ph.D., German, CB-Europe General Insurance-CFO, PE–Zurich
Financial Services AG-CFO, Zurich Re, Agrippina, Zurich Versicherung
Aktiengesellschaft, Oxford, PC-Economiesuisse E-University of Cologne-Ph.D.
Mathematics.
Maximilian Zimmerer Ph.D., German, CB-Allianz Dresdner Bauspar AG, Allianz
Immobilien GmbH and Hauck & Aufhäuser Banquiers Luxembourg S.A., PE-Dresdner
RCM Global Investor, Landesbank Baden-Wuerttemberg, PC-Federal Finance Ministry,
World Economic Forum 2013, German Equity Institute, Bundesanstalt für
Finanzdienstleistungsaufsicht (Federal Security Authority) E-University of Cologne-Law.

Peter Phillips is professor of sociology at Sonoma State University and president of
Media Freedom Foundation/Project Censored.
Brady Osborne is a senior level research associate at Sonoma State University.
Sonoma State University’s Kimberly Soeiro, Katelyn Clatty, and Garrett Lyons provided
research assistance with this study. Portions of the literature review in this chapter were
previously published in earlier Censored yearbooks.
Notes
1. See G. William Domhoff, Who Rules America?, 5th ed. (New York: McGraw Hill,
2006), and Peter Phillips, “A Relative Advantage: Sociology of the San Francisco
Bohemian Club,” 1994,
http://library.sonoma.edu/regional/faculty/phillips/bohemianindex.php.
2. Early studies by Charles Beard, published as An Economic Interpretation of the
Constitution of the United States (1913), established that economic elites formulated the
US Constitution to serve their own special interests. Henry Klein, in a 1921 book entitled
Dynastic America and Those Who Own It, argued that wealth in America had power
never before known in the world and was centered in the top 2 percent of the population,
which owned some 60 percent of the country. In 1937, Ferdinand Lundberg published
America’s Sixty Families, which documented intermarrying, self-perpetuating families,
for whom wealth was the “indispensable handmaiden of government.” In 1945, C. Wright
Mills determined that nine out of ten business elites from 1750 to 1879 came from wellto-do families (“American Business Elites,” Journal of Economic History, December
1945).

3. See Robert A. Brady, Business as a System of Power (New York: Columbia University
Press, 1943); and Val Burris, “Elite Policy Planning Networks in the United States,”
Research in Politics and Society, 4th ed. Gwen Moore and J. Allen Whitt (Greenwich,
Connecticut: JAI Press, 1992), 111–134, http://pages.uoregon.edu/vburris/policy.pdf.
4. C. Wright Mills, The Power Elite (New York: Oxford University Press, 1956).
5. See Michael Soref, “Social Class and Division of Labor within the Corporate Elite,”
Sociological Quarterly 17 (1976); and two works by Michael Useem: “The Social
Organization of the American Business Elite and Participation of Corporation Directors
in the Governance of American Institutions,” American Sociological Review 44 (1979),
and The Inner Circle (New York: Oxford University Press, 1984).
6. Thomas Koenig and Robert Gogel, “Interlocking Corporate Directorships as a Social
Network,” American Journal of Economics and Sociology 40, no. 1 (1981); and Peter
Phillips, “The 1934–35 Red Threat and the Passage of the National Labor Relations Act,”
Critical Sociology 20, no. 2 (1994).
7. For a discussion of principals inside the HCPE who pursue US military domination of
the world as their key agenda, see Peter Phillips, Bridget Thornton, and Celeste Vogler,
“The Global Dominance Group: 9/11 Pre-Warnings & Election Irregularities in Context,”
http://www.projectcensored.org/top-stories/articles/the-global-dominance-group.
8. Leslie Sklair, The Transnational Capitalist Class (Oxford, UK: Blackwell, 2001).
9. Leslie Sklair, “The Transnational Capitalist Class and the Discourse of Globalization,”
Cambridge Review of International Affairs 14, no. 1, (2000), 67–85,
http://www.lse.ac.uk/collections/globalDimensions/globalisation/theTransnationalCapitali
stClassAndTheDiscourseOfGlobalization.
10. William I. Robinson, A Theory of Global Capitalism: Production, Class, and State in
a Transnational World (Baltimore: John Hopkins University Press, 2004).
11. Ibid., 155–156.
12. David Rothkopf, SuperClass: The Global Power Elite and the World They are
Making (New York: Farrar, Straus, and Giroux, 2008).
13. Peter Dale Scott, American War Machine, Deep Politics, the CIA Global Drug
Connection, and the Road to Afghanistan (Lanham, MD: Rowman & Littlefield
Publishers, 2010). See also Censored story #22, “Wachovia Bank Laundered Money for
Latin American Drug Cartels,” Censored 2013: Dispatches from the Media Revolution,
Mickey Huff and Andy Lee Roth with Project Censored (New York: Seven Stories Press,
2012), 66–68.

14. David Rothkopf, Superclass, Public Address: Carnegie Endowment for International
Peace, April 9, 2008.
15. “Defense Against Terrorism Programme of Work (DATPOW),” North Atlantic Treaty
Organization, September 24, 2012, http://www.nato.int/cps/en/SID-EBFFE85766071109D/natilive/topics_50313.htm?selectedLocale-en.
16. Nazemroaya, Mahdi Darius, The Globalization of NATO (Atlanta: Clarity Press,
2012).
17. William K. Carroll, The Making of a Transnational Capitalist Class: Corporate
Power in the 21st Century (London and New York: Zed Books, 2010).
18. Stefania Vitali, James B. Glattfelder, and Stefano Battiston, “The Network of Global
Corporate Control,” PLoS ONE, October 26, 2011, http://www.plosone.org/article/info
%3Adoi%2F10.113711%2Fjournal.phone.0025995. See also Censored story #6, “Small
Network of Corporations Run the Global Economy,” Censored 2012, 69–70.
19. More details on this University of Zurich study, and the list of the top twenty-five of
the 147 super-connected companies, is printed in full in Mickey Huff and Andy Roth with
Project Censored, Censored 2013, 247–248.
20. Vitali, et al., “Network of Global Corporate Control.”
21. “The Top Asset Management Firms 2012, Banks around the World,” June 30, 2012,
http://www.relbanks.com/rankings/largest-asset-managers.
22. “Barclays Total Assets: 2.426T for Dec. 31, 2012,”
http://ycharts.com/companies/BCS/assets.
23. See the Censored News Cluster, “Iceland, the Power of Peaceful Revolution, and the
Commons,” in this volume, for coverage of Iceland as a notable exception to the
international trend of banks not being held accountable for systemic misconduct.
24. Dylan Murphy, “Money Laundering and The Drug Trade: The Role of the Banks,”
Global Research, May 7, 2013, http://www.globalresearch.ca/money-laundering-and-thedrug-trade-the-role-of-the-banks/5334205. See also Scott, American War Machine.
25. Ibid.
26. Kylie MacLellan and Matthew Tostevin, “Factbox: Banks drawn into Libor ratefixing scandal,” Reuters, July 11, 2012, http://www.reuters.com/article/2012/07/111/usbanking-libor-panel-idUSBRE86A0P020120711.
27. “Barclays Fined for Attempts to Manipulate Libor Rates,” BBC News, June 27, 2012,
http://www.bbc.co.uk/news/buisness-18612779.

28. Matthew Leising, Lindsay Fortado and Jim Brunsden, “Meet ISDAfix, the Libor
Scandal’s Sequel,” April 18, 2013, Bloomberg Businessweek,
http://businessweek.com/articles/2013-04-118/meet-isdafix-the-libor-scandes-sequel.
29. Dan Margolies and Ross Kerber, “Vanguard Sued again for ‘Illegal Gambling’
Investments,” Reuters, April 8, 2010,
http://www.reuters.com/article/2010/04/08/vanguard-lawsuit-idUSN0818833420100048.
30. Matt Taibbi, “Everything is Rigged: The Biggest Price-Fixing Scandal Ever,” Rolling
Stone, April 25, 2013, http://www.rollingstone.com/politics/news/everything-is-riggedthe-biggest-financial-scandal-yet-20130425.
31. John Rudolf and Chris Kirkham, “Gunmaker Investments Under Review By
California Teachers’ Fund After Newton Massacre,” Huffington Post Business, December
18, 2012, http://huffingtonpost.com/2012/12/118/gunmaker-investmentsnewton_n_2325323.html.
32. Yasha Levine, “Exposed: The Billionaire-Backed Group Strong-Arming Parents into
Destroying Their Kids’ Public Schools,” AlterNet, April 26, 2013,
http://www.alternet.org/education/exposed-billionare-backed-group-strong-armingparents-destorying-their-kids-public. On efforts to privative public education, see also,
Adam Bessie, “GERM Warfare: How to Reclaim the Education Debate from Corporate
Occupation,” Censored 2013, 271–296.
33. Tyler Durgen, “A Detailed Look at Global Wealth Distribution,” Zero Hedge, October
11, 2010, http://www.zerohedge.com/article/detailed-look-global-wealth-distribution.
34. “World Bank Sees Progress Against Extreme Poverty, but Flags Vulnerabilities,” The
World Bank, February 29, 2012, http://www.worldbank.org/en/news/pressrelease/2012/02/29/world-bank-sees-progress-against-extreme-poverty-but-flagsvulnerabilities.
35. Mark Ellis, “The Three Top Sins of the Universe,” http://www.starvation.net.
36. Please see http://projectcensored.org/financial-core-of-the-transnational-corporateclass/for a searchable chart of the members of the superclass.
37. On the heritage of the commons, see http://www.fairsharecommonheritage.org.